New Pacific Metals has discovered a world-class silver deposit
|New Pacific Metal's CEO, Dr. Mark Cruise, discusses highlights of the company's maiden resource on Market One Minute.|
New Pacific Metals Corp. (TSX.V: NUAG) (OTCQX: NUPMF) is exploring and developing precious metals properties in Bolivia. The company’s flagship property is the Silver Sand project in Potosí, Bolivia.
Jim Gordon: Hi, I'm Jim Gordon and you're watching Market One Minute. Joining us today is Dr. Mark Cruise, of New Pacific Metals Corp. Mark, thanks for joining us.
Mark Cruise: It's great to be here today. Thank you for having me.
Jim Gordon: You're quite welcome. Okay, New Pacific Metals has released their maiden resource. What are some of the highlights in the numbers that investors should be paying attention to?
Mark Cruise: Yeah, New Pacific has just released our new resource. It's our inaugural one. The highlights are it's big and it's high-grade. It's measured and indicated of 35 million tonnes at 137 grams per tonne for close to 156 million ounces of contained silver, and inferred close to 10 million tonnes at 112 grams per tonne for an additional 35 million ounces. It's one of the largest new silver discoveries out there globally in the last decade. Mineralization starts at or near surface and certainly the grades are very attractive and may be amenable to open pit extraction.
Jim Gordon: And what does the main resource mean to New Pacific Metals, and how does it compare to other silver resources, and the rest of the industry?
Mark Cruise: Listen for New Pacific it is huge. The team has been working hard for the last two years on this resource estimate. So, the fact that the team has been able to go on the ground in a relatively short period of time, obviously pinpoint the opportunity, drill it and get the resource out and turn it into what is looking to be a world-class discovery, is massive for any company no matter what size, and to put it into perspective, it is one of the biggest new silver discoveries out there globally and even if we look at the head grade, the average head grade of all silver mines — underground mines globally — are 180 grams per tonne, whereas we're coming out with a resource that looks like it's going to be open pitable at 137 grams per tonne. So, that's a massive competitive advantage.
Jim Gordon: And Mark is the deposit drilled off?
Mark Cruise: For the large parts the core of the deposit or the central zone is drilled off. It's drilled off very tightly at 25 metre centers. That allowed us to have these high-quality tonnage there on measured and indicated. Although, it does remain open to the north, it remains open to the south, and it remains open at depth. In fact, the deepest drill hole, or roughly 90 per cent of the drill holes, we've only tested the top 200 to 250 meters. So, we've really only scratched the surface on this one.
Jim Gordon: Now New Pacific Metals has other assets in Bolivia. What are your plans in the district and the region?
Mark Cruise: Yeah, New Pacific plans are pretty straightforward. We're going to continue with advanced engineering studies on the Silver Sand Deposit itself. District-wise we're going to continue following up on our recent discoveries. Most notably on the Snake Hole zone from December last year, and it is not included in the current resource estimate.
We are currently in progress of drilling another 4,000 metres, and this is some of the highest-grade intersections that New Pacific has drilled in Bolivia. So, district-wise, the team feels there's a lot more to be discovered. We classify the potential as excellent, and then when we step back regionally, we really have first-mover status in the entire country, really one of the world's richest silver districts.
Jim Gordon: Mark finally, what is the company strategy moving forward for the rest of 2020?
Mark Cruise: Yeah, listen it's a combination of things. So, we're going to continue de-risking and developing the Silver Sand Deposit itself. So, more of that's transitioning into more advanced scale studies, whether that's metallurgy, ground conditions, water, social, environmental studies, and we already started them in January of this year. So, we've already got a bit of a head start there, and then also we're going to keep maintaining the exploration. We've got a very experienced exploration team. So, it's taking the lessons we learnt and the skills we've gained at Silver Sand itself and leveraging that out into the regional scale and also countrywide as well, namely our Silverstrike project.
Jim Gordon: Mark, thanks for joining us.
Mark Cruise: Many thanks for having me here.
NEW PACIFIC METALS CORP. IS A CANADIAN ISSUER
This presentation is prepared by New Pacific Metals Corp. (TSXV:NUAG/OTCQX:NUPMF) (“New Pacific”) management and New Pacific is solely responsible for content and format. This presentation is not intended as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed on the merits of this presentation and no representation or warranty is made by New Pacific to that effect. The information in this presentation is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to New Pacific and should not be used for the purpose of making investment decisions concerning securities of New Pacific.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This presentation contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation concerning the business, operations and financial performance and condition of New Pacific. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of exploration activities, requirements for additional capital, government regulation of mining operations, environmental risks, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of New Pacific to be materially different from those expressed or implied by such forward-looking statements; see a list of risk factors in the section titled “Description of the Business – Risk Factors” in New Pacific’s annual information form available under New Pacific’s profile on www.sedar.com. Although New Pacific has attempted to identify important factors that could cause actual results to differ materially from those contained in such forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
CAUTIONARY STATEMENTS REGARDING ESTIMATES OF MINERAL RESOURCES
This presentation uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43-101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. This presentation contains certain exploration information conceptual in nature. Please note that for such information, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
CAUTIONARY NOTE TO US INVESTORS
This has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.
This video content is produced by Market One Media Group Inc. on behalf of New Pacific Metals Corp. New Pacific has reviewed and approved all contents of the video.